The Union Budget 2023-24 was not as beneficial for the residential real estate sector as the industry had hoped. The only announcement with direct implications for the housing sector was the increased allocation for the Pradhan Mantri Awaas Yojana (PMAY). More supply in this segment can benefit the middle class, who form a significant portion of the target audience for this scheme. One of the major changes is the introduction of a new tax regime, which offers lower tax rates for individuals who forgo exemptions and deductions. However, this regime…
Read MoreFriday, September 20, 2024
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